Earthlink net income falls 51%

SteveGelsi

NEW YORK (MarketWatch) -- Earthlink
ELNK, +0.35%
on Thursday reported first-quarter net income of $16.4 million, or 12 cents a share, down from $33.3 million, or 22 cents a share in the year-ago period. Revenue fell to $310 million from $335 million. Income from operations fell to $20 million from $37 million. A survey of analysts by Thomson First Call forecast earnings of 8 cents a share and revenue of $311 million. The company forecast revenue of $1.33 billion to $1.38 billion for 2006, ahead of the Wall Street forecast of $1.26 billion. For the second quarter, Earthlink sees net income of break-even to $5 million, including an expected loss of $20 million for losses in the Helio wireless joint venture. First Call is forecasting net income of $11.6 million.

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